Trading Plan – Monday 1st July 2024: French elections – all calm, so far

Mark NugentJuly 2024, Trading Plan

Trading Plan – Monday 1st July 2024: French elections – all calm, so far

Good afternoon.

The second half of the year starts here.

This week is coloured by elections. The first stage of the French elections has delivered Le Pen as the outright winner. Markets rose on the news (as they feared a bigger win for her) but are now reversing. Much manoeuvring will now take place to try to deny her and her party, the National Rally, an overall majority. It is a complex electoral situation that flirts with democracy but doesn’t really nail it. In my view.

Highlights for the week are eurozone inflation tomorrow, the Fed minutes on Wednesday and the UK election on Thursday.

Right now, I see the USDJPY rising. If you follow my videos, you will know what that means.

As always, I go through my trading themes for the week in the video

I’ll be back tomorrow.

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